By John Lee. President Dr. Abdul Latif Jamal Rashid met with Ken West, CEO of Honeywell Energy and Sustainability Solutions, on 21 January 2025 in Davos. Discussions centred on strengthening Iraq's collaboration with Honeywell in the oil and energy industries. The President highlighted Iraq's current stability, investment opportunities, and commitment to improving oil and gas […]
By John Lee. Prime Minister Mohammed S. Al-Sudani met on Sunday with Diwaniyah Governor Abbas Shaeel Al-Zamili and Provincial Council Head Mohammed Shukheir Farhoud to discuss the administrative and service conditions in the province. The Prime Minister directed the allocation of necessary funds to support the completion of rehabilitation works in 42 neighborhoods across the […]
By John Lee. The Council of Ministers has approved amendments to the Nasiriyah Field Expansion Project (100,000 barrels/day) managed by Dhi Qar Oil Company (DQOC). The changes include adopting the EPC (Engineering, Procurement, and Construction) model instead of the EPCF (Engineering, Procurement, Construction and Financing Contract) contract and revising the project's total cost. Funding-related provisions […]
By John Lee. Iraq's Minister of Electricity, Ziad Ali Fadhil, has signed a cooperation agreement and memorandum of understanding with U.S.-based Stellar Energy to implement strategic projects aimed at advancing Iraq's electricity sector. The first phase of the agreement will be financed through the Export-Import Bank of the United States (EXIM Bank). This will include […]
By John Lee. Edita Food Industries, an Egyptian snack food producer, has announced its entry into the Iraqi market through a strategic partnership with Baghdad-based Tuama Jebur Abbas (TJA). The move marks a significant milestone in Edita's regional expansion strategy as the company acquires a 49-percent stake in TJA, a family-run snack manufacturer, for $8 […]
By John Lee. The Iraqi Cabinet has approved a Heads of Agreement (HOA) with US-based Halliburton for the development of the Nahr Bin Omar [Nahr Bin Umar, Nahr Ben Umar] and Sindbad oil fields in Basra. According to a statement from the Media Office of the Prime Minister, the project will employ Integrated Field Management […]
By John Lee. Iraq's Council of Ministers has approved the referral of the Integrated Medical City Project in Dhi Qar Governorate to China State Construction Engineering Corporation (CSCEC). The project, based on a turnkey delivery system, follows the Dhi Qar Reconstruction Fund Instructions (No. 2 of 2021) and was recommended by the Reconstruction Fund Committee. […]
By John Lee. Just a month ago, Iraq Business News ran an article examining the possible connection between support for Donald Trump and a belief in the Iraqi Dinar revaluation theory -- the idea that the Iraqi Dinar (IQD) will revalue ("RV") to as much as 1000 times its current value. You can read the […]
By John Lee. Iraq's Midland [Middle] Oil Company (MdOC) has reportedly announced the discovery of a significant oil reserve in the East Baghdad field. The discovery was made in collaboration with EBS Petroleum, a body registered in Iraq to conduct petroleum operations on behalf of China's ZhenHua Oil, According to state-run Iraqi News Agency (INA), […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Preface and Introduction of Iraq Petroleum Sector Chronicle - Predicaments Continue, Development Derailed My seventh book, the sixth in the series of volumes of my main research and publishing project on the […]
By John Lee. Prime Minister Mohammed S. Al-Sudani presided over a meeting of the Higher Committee for the New Sadr City Project, focusing on advancing infrastructure and housing initiatives for this major urban development. Key Decisions and Updates: Progress on Phase One Reviewed advancements in awarding contracts for infrastructure projects. Phase One comprises 11,000 housing […]
By John Lee. The state-owned Iraqi Drilling Company (IDC) has signed a contract with Angola's Sonangol to drill 10 developmental wells and 3 optional appraisal wells in the Qayara [Qayyarah] oil field, part of the North Oil Company (NOC)'s fields. T he project will be executed on a turnkey basis in collaboration with Baghdad-based Arab […]
